Bobby Featured in Profiles in Success Series

We are proud to announce the fact that Bobby was featured in Volume XIII of Profiles in Success, a collection of profiles highlighting words of wisdom and advice from a diverse group of business leaders in the Washington D.C. area. Bobby was interviewed by Gordon Bernhardt and talked about his success in the practice of law, the influence of his father in his chosen career, and the importance of visualizing victories to achieve your life's goals. Take a moment to read Bobby's interview here.     Below is a video of Gordon Bernhardt discussing the Profiles in Success Series. https://www.youtube.com/watch?v=qczv4vPq9_s...

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Real Estate Developers May Be Able to Avoid Gift Taxes When Passing On Developer Units

In February 2016, two Central Park condos owned by then-candidate Donald Trump had an estimated market value of $790,000 and $800,000. In April 2016, Trump sold these condos to his son, Eric Trump, for pennies on the dollar ($350,000 each, to be exact). For most people, this family-friendly sweetheart deal would typically incur hundreds of thousands of dollars in gift taxes. Not so for Donald Trump. Why? Because he was a real estate developer. A real estate owner who sells a piece of property for less than it’s estimated worth typically has to pay gift tax on the difference between the sale...

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How to Properly Establish a Living Trust

One of the best estate planning tools you can utilize is a living trust. Establishing a trust allows your loved ones to avoid lengthy and complicated probate and may save your family money in administrative expenses and taxes. So how do you set up a living trust? The requirements of a trust to be considered legally valid include: You need to have the intent to create a trust. This is a fairly simple requirement to meet by stating your intent in the trust document. You need to have the testamentary capacity to create a trust. This means you need to have the...

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Passing On Your Lessons in a Metaphorical Message in a Bottle

Randy Pausch was an accomplished academic who taught computer science at both the University of Virginia and Carnegie Melon University. He became known across the country after giving a heart-wrenching “last lecture” to students at Carnegie Melon making him a Lou-Gehrig-like symbol of the beauty and briefness of life, according to the New York Times. Professors at Carnegie Melon are sometimes asked to give lectures on what wisdom they would impart if they knew it was their last chance. Hence, the title, “last lecture.” Dr. Pausch accepted that challenge after learning he had only a few months left to live. Dr. Paush’s...

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New Administration May Mean Major Estate Tax Changes

The estate tax (also known as the "death tax") may be on the proverbial chopping block with President-elect Donald Trump ascending to Commander-in-Chief, along with a Republican-controlled Congress. Most, if not all, Republicans oppose the estate tax. President-elect Trump’s tax plan expressly calls for an outright repeal of the tax and imposing a capital gains tax on assets left to heirs above $10 million, according to Forbes.com. The estate tax is generally not an issue for most people due to the sizable exemptions afforded under the tax code. However, people often make the mistake that estate planning is the same thing...

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